It looks like RESPA allows you to select your own title insurer in all states.
You probably don't need an owner's title insurance policy because you probably got an owner's title insurance policy when you purchased the home.
I believe I was told that the policies only good until another mortgage was acquired. Was that wrong information (or do I remember incorrectly)?
Yes and no.
A lender will always insist on a new lender's title insurance policy whenever the lender makes a new loan secured by real estate. But the reason is not that the old title insurance policy is no longer in force-- the original policy remains in force. The reason the lender requires a new policy is that time has passed and there are new title risks that the lender needs to insure against. Thus, they will insist on a new insurance policy to cover the new risks.
An owner's policy is similar in that it continues in force even if the property is subsequently refinanced. Thus, if you purchased an owner's title insurance policy when you acquired the property, you are already insured in the event you did not receive good title to the property from the person who conveyed it to you. You would not be insured against some title issues arising after the Policy Date, but there's not a lot of risk because you own the property. If there is a title risk, its probably your fault anyway. I suppose reasonable minds could differ on the need for an owner's title insurance policy upon refinancing but if I were to refinance, I would not purchase another owner's title insurance policy.
The key difference between the risk for the owner and a lender in a refinancing situation is knowledge. The lender is a stranger to the property and doesn't know if the owner has previously conveyed the property to a third party or previously granted a higher priority security interest to another lender-- thus there are real risks for the lender to insure against. The owner presumably knows whether there have been any conveyances and doesn't have much risk to insure against.
Here is a link to a sample ALTA homeowner's policy:
http://www.landtitleco.net/downloads/ALTA_Homeowners_Policy_Sample.pdfCheck out the bottom of the 6th page starting at "2. Continuation of Coverage" to see that the policy remains in effect.